Loading Content...
Affordable Housing in Stockton, Missouri: A Decade of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Stockton, Missouri, a city with a population of 2,805 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 64 units. These units represent approximately 6% of the city's estimated 1,075 housing units. The LIHTC program has provided $214,648 in project tax credits for affordable housing in Stockton, averaging $71,549 per project and $3,354 per unit in federal funding. Stockton's share of the total state LIHTC funding is 0.06%.
The development of affordable housing in Stockton spans from 1993 to 2006. The first LIHTC project, Stockton Estates LP, was completed in 1993, while the most recent, Stockton Heights, was finished in 2006. The 2000s were the most active period for affordable housing development, with two out of three projects completed during this decade.
Stockton's affordable housing inventory consists of 4 one-bedroom units, 30 two-bedroom units, and 12 three-bedroom units. This distribution indicates an effort to accommodate families of various sizes within the affordable housing framework.
Stockton's population has fluctuated over the past decade, showing a recent increase from 2,313 in 2018 to 2,805 in 2022. The median income has also risen from $36,039 in 2018 to $38,000 in 2022, suggesting a slight improvement in economic conditions. The racial composition of Stockton has remained relatively stable, with a predominantly white population (95% in 2022) and a small but growing Hispanic population (3% in 2022).
The LIHTC funded affordable housing inventory in Stockton addresses a portion of the city's housing needs, covering about 6% of the estimated housing stock. The city experienced affordable housing development from 1993 to 2006, with the most activity occurring in the 2000s. Recent population growth and a slight increase in median income indicate a potentially growing demand for affordable housing. While the current LIHTC inventory provides a foundation, ongoing assessment of housing needs in relation to demographic trends will be essential for future planning and development of affordable housing in Stockton.
